- An asset. The term cost is often used when referring to the valuation of acquired property. When it is used in this sense, a cost is an asset.
- Concepts of cost and expense are often used interchangeably. When the benefits of the acquisition of a building expires, the cost becomes an expense called depreciation.
- The sacrifice, measured by the price paid, to acquire real estate.
Popular Real Estate Terms
Branch of the federal government responsible for collecting taxes including personal and corporate. The IRS administers tax rules and regulations, and investigates tax irregularities. ...
An easement granted to a public utility. ...
Within Real Estate, “nuisance” is a term used to describe any disturbance that might affect neighboring houses. Nuisance abatement is the enforcing of policies and codes that ...
Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...
Square footage of space a parcel of land has. ...
Database program that has real estate listings including property photographs. Real estate computer software allows real estate agents and brokers to search for a particular listing by ...
Material used for covering the surfaces of walls or ceilings. Plaster used to be made from plaster of paris, but is now primarily made from cement mixed with sand and water. After plaster ...
An individual appointed by a court to manage the affairs and property of a legally incompetent party. The conservator has full decision-making authority over the affairs of the property in ...
Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...
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